Bank of New York v. American Dock & Trust Co.
New York Supreme Court
Exceptions from circuit court, New York county. Action by the Bank of New York, National Banking Association, against the American Dock & Trust Company, for damages for issuing a spurious warehouse receipt. Judgment for defendant. Plaintiff moves for new trial on exceptions ordered to be heard in the first instance at general term.
1Opinion of the CourtBarrett, J.
The main question here is whether the plaintiff is to be treated as a bona fide holder of the warehouse receipt upon the faith of which it advanced money to the defendant’s president, Stone. This warehouse receipt was signed, “M. W. Stone, Prest.,” and it acknowledged the receipt on storage at the American docks, for account of M. W. Stone, of 162 bales of cotton. This acknowledgment was false. The company had received no such cotton. Stone had simply prepared and signed the paper to raise money thereon for his own private purposes. There is no question here of general authority. Both the…
2Cases cited7 opinions
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
- Farrington v. South Boston RailroadMassachusetts Supreme Judicial Court · 1890
- Titus v. President of the Great Western Turnpike RoadNew York Court of Appeals · 1874
- Neuendorff v. World Mutual Life InsuranceNew York Court of Appeals · 1877
- Manhattan Life Ins. v. Forty-Second St. & Grand St. Ferry R.New York Supreme Court · 1892
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3Cited by4 opinions
- Hanover National Bank v. American Dock & Trust Co.New York Supreme Court · 1894
- Knox v. Eden Musee American Co.New York Supreme Court · 1893
- Corn Exchange Bank v. American Dock & Trust Co.New York Supreme Court · 1894
- Hanover National Bank v. American Dock & Trust Co.New York Supreme Court · 1894